The townhome community is currently operated as low-income housing under an agreement with Maryland State, which imposes rent restrictions on the property. As a result, rents are significantly below market rate. The agreement with Maryland State will terminate upon the sale of the property. The buyer will have a value-add opportunity to do some upgrading, improve the occupancy rate and bring the units up to market rents. Alternatively, the buyer can opt to enroll the property in a low-income housing program(s) of its choosing, and continue to provide affordable/low-income housing to the area. Submit a completed and signed NDA (in Documents tab) to receive Offering Memo.